Hubbell (NYSE:HUBB) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Hubbell (NYSE:HUBB) released its quarterly earnings data on Tuesday. The industrial products company reported $5.91 earnings per share for the quarter, topping the consensus estimate of $5.75 by $0.16, Zacks reports. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.17 earnings per share.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $21.90 during trading on Tuesday, reaching $437.50. 261,231 shares of the company’s stock traded hands, compared to its average volume of 573,806. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. The stock has a market capitalization of $23.11 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.23 and a beta of 0.85. Hubbell has a 12 month low of $403.82 and a 12 month high of $565.50. The company has a 50 day moving average of $463.32 and a 200-day moving average of $488.50.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 30th. This is an increase from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s payout ratio is presently 33.63%.

Analyst Upgrades and Downgrades

HUBB has been the subject of several analyst reports. Evercore restated an “outperform” rating and issued a $630.00 target price on shares of Hubbell in a research note on Friday, October 9th. Mizuho lowered their target price on shares of Hubbell from $575.00 to $560.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Robert W. Baird initiated coverage on shares of Hubbell in a research note on Thursday, August 20th. They set an “outperform” rating and a $550.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of Hubbell in a research note on Tuesday, October 20th. They issued a “neutral” rating and a $485.00 target price for the company. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $552.67.

Insider Activity

In other news, VP Jonathan Del Nero sold 547 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares in the company, valued at approximately $1,520,936.48. This trade represents a 15.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.63% of the stock is owned by company insiders.

Hubbell Company Profile

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.